Plum raised £1 million in eight hours in ongoing crowdfunding campaing on Crowdcube

Rick Steves

“Plum has worked hard to deliver its promises in 2022, bringing major new features to its app, from introducing commission-free investing and a debit card, to expanding into new European markets and enabling crypto-currency trading. As we look towards the future, we are eager to push even stronger features, winning in the European market with our standout proposition.”

Plum has raised £1 million from more than 3,700 in the first eight hours of its crowdfunding campaign on Crowdcube, thus achieving its initial target.

The firm operating the smart money app pledges to use the raised funds to accelerate its expansion into Europe, refine its products further to best serve its customers’ needs and enhance its mobile app.

The current crowdfunding campaign follows a recent fundraiser that secured £5 million in financing from Silicon Valley Bank UK, which joined existing seasoned investors and financing partners dmg ventures, VentureFriends and Global Brain.

Further share allocation has been made available

Crowdcube, one of the world’s largest equity crowdfunding platforms available to both UK and European investors, is hosting Plum’s fundraiser which has seen over 3,700 retail investors from nationalities spanning the UK, Greece, Cyprus, France, Bulgaria, Belgium and Spain.

Crowdfunding is still open to new investments for 5 more days as further share allocation has been made available.

Victor Trokoudes, CEO and co-founder of Plum said: “I want to thank our 3700 investors for joining Plum in its journey with this new round of crowdfunding. I am thrilled to see that our campaign has secured such good traction in a short amount of time and I am excited for what is yet to come.

“Plum has worked hard to deliver its promises in 2022, bringing major new features to its app, from introducing commission-free investing and a debit card, to expanding into new European markets and enabling crypto-currency trading. As we look towards the future, we are eager to push even stronger features, winning in the European market with our standout proposition.”

Plum was founded in 2016 by Victor Trokoudes (ex-Wise) and has grown its customer base to more than 1.4 million customers across the UK and EU, helping them set aside more than £1.4 billion.

Plum added stocks and crypto to platform

The money app, which had recently added stock investing to its offering, has tapped Bitpanda in order to provide access to cryptocurrency trading.

Access to the Bitpanda crypto services are enabled by Plum Fintech CY Limited through Bitpanda GmbH, Austria. Bitpanda’s crypto services will be accessible through Plum’s interface, with all transactions executed by Bitpanda.

The Bitpanda Group is registered with the Austrian Financial Market Authority (FMA), the French Autorité Des Marchés Financiers (AMF), the Czech Trade Authority as VASP, holds the PSD2 licence, the MiFID II licence and became Austria’s first Electronic Money Institution (EMI) in accordance with European law (EMD2), plus has a fully AML5 compliant KYC process.

The stock investing offering is designed for customers to diversify and grow their funds over the long-term with access to more than 500 US stocks that can be bought or sold directly within the app, using its free Basic subscription.

The Premium tier option will be launched later this month and is priced at €9.99 per month in exchange for priority customer service and a broader range of stocks.

This range will offer 1,000 stocks initially, rising soon to at least 3,000 stocks in companies from around the world. That means these customers will have even more freedom to customise their investment portfolio to reflect their personal values and support the brands they trust.

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